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Aviation History
1934
1934 - 0184.PDF
FLIGHT, FEBRUARY 22, 19S4 AIRCRAFT COMPANIES' STOCKS AND SHARES J URLNG the past month shares of aircraft and allied companies have been one of the most buoyant features of the industrial section of the Stock Exchange, and on balance numerous large rises have been established. In view of reports that various companies are doing active and increasing business, the market is taking the view that there are favourable prospects of larger dividends for the current year and share prices have been adjusted accord- ingly. In accordance with the general tendency, the dis- position is for prices to discount increased earnings and -dividends a long way ahead. Despite the further denial of the directors that they are contemplating a share bonus, Rolls-Royce have moved up further, and as compared with a month ago there has been a substantial advance from 77s. to 89s. 6d. This is attributed to the anticipations that owing to the expansion of the aero engine side of the busi- ness the forthcoming report may show higher profits and •also a larger dividend. For the previous year the dividend of 10 per cent, was very conservative, as about 18J per cent, could have been paid if profits had been distributed up to the hilt. Hawker Aircraft are 22s. 9d., compared with 19s. 3d. a month ago, the view having grown in the market that a favourable dividend is in prospect for the initial financial period of the public company. The prefer- ence shares are also higher at 22s., compared with 21s. 3d. De Havilland were the centre of active business on very favourable trading reports ; on the month there has been a rise from 38s. 6d. to 48s. Imperial Airways, which also participated in the upward movement, are 40s., a gain of Is 3d. on the month. There was increased interest in Napier issues on the high expectations attaching to the company's new engine and the hope that the directors will Name Class Anglo-American Oil .. .. Deb.Armstrong-Siddeley Develop. Cum. Pref. Birmingham Aluminium Castg. Ord. NominalAmount of Share % Stk. "Booth (James), 1915Do. do. British Aluminium Do. do."British Celanese British OxygenDo. do. British Piston RingBritish Thomson-Houston Brown Brothers Do. do.Dick (W. B.) .. De Havilland Aircraftr>unlop Rubber Do. do.En-Tout-Cas (Syston) .. Do. do.Tairey Aviation Firth (T.) & John Brown Do. do.Ford Motor (England) Fox (Samuel)•Goodyear Tyre and Rubber Handley PageHawker Aircraft Do. do.Hoffmann Manufacturing Do. do.Imperial Airwaj's Kayser, EllisonDo. do, l.ucac (Joseph) . . , ,Napier (D.) & Son Do. doDo. do PettersDo Roe (A. V.) (Cont. by Arm-strong-Siddeley Devel.,0.t.) Rolls-RoyceSmith (Si) & Son (M.A.) Do. do.Do. do. Serck Radiators Ord.. Cum. Pref. Ord. '. Cum. Pref. Ord.Ord. . Cum. Pref.Ord. . Cum. Pref.Ord. , Cum. Pref.. Cum. Pref. Ord.Ord. . "C'Cum.Pref.. Def. Ord. . Ptg. Ptd. Ord.Ord. . Cum. Pref.. Cum. Pref. Ord.. Mt. Deb. . - Deb.. Ptg. Pref. Ord..Red.Cum.Pref. Ord.. Cum. Pref. Ord.Ord. • Cum. Prcf. era. Ord.. Cum. Pref. Pref.Ord. Cum. Pref. Ord. Ord.Def. Ord. Pt.Pfd.Ord.Cum. Pref. Ord. £1?1 £1£1 10/- £i£1 £1£1 £io£1 c16/- 1/-5/- 10/- £1 £1Stk. Stk. 8/- 5/-£1 £1£1 £1Is I5£1 51-£1 £1t\ 157 5 6Nil 207 107i 7£4 10 NilNil 10 6D 5*D Nil5 62-10 B B5 7*5 16 25ENil 7* 8A Nil Last CurrentAnnual Week's Dividend Quotation 10123/9 31 n\69/3 28/631/9 24/613/9 "" Shell " Transport and Trading Ord.do. Cum. Pref. . .Cum.Pfd.Ord.Ord. Ord.. . Cum. Pref. by 1025 14 n 12*5' 4P25 45* 72/328/H 48/930/- 113/948/- 45/4J29/3 -in 3/328/6 16/-16/- 24/980J 10415/3 22/922/- 31/326/1 Oi 40/-70/- 102/ft 59/- 23/918/9 TIG13/9 89/67/3 56/628/9 45/-53/9 84/-8/10 23/6 Do."Sternol Triplex Safety Glass ..Vickers .. DoVickers Aviation (Cont. Vickers, q.v.) .... — — — —Westland Aircraft (Branch of Petters, q.v.) — — — — • Dividend paid, tax free, c £1 unit of stock, D Last xd. March, 193 1.A Last xd. September, 1931. B Issued this year, o Last xd. July 19, 193 2. R Also 100% share bonus. F Actual: in respect of arrears. be able to refer in the forthcoming annual report or at themeeting to improved prospects for the current year. The dividend on the 7\ per cent, preference shares is paid todate, and as that on the 8 per cent, preference is non- cumulative, the way is open for the resumption of divi-dend on the ordinary shares as soon as earnings permit of this. Fairey Aviation are 2s. up on the month, as areHandley Page preference. Petters issues were unchanged in the absence of much business to test quotations. Inother directions Hoffmann Manufacturing moved up from 28s. 9d. to 31s. 3d. on hopes that the report, due shortly,will confirm expectations of a larger dividend. S. Smith (M.A.) preferred ordinary did not hold the whole of theirgain of the previous month, but the deferred were higher, there being expectations that an interim dividend will bepaid on the deferred shares this year. Joseph Lucas were well maintained, awaiting the interim dividend announce-ment, which in this case is due any time now. Brown Brothers were very firm on favourable views regarding thereport, which falls to be issued in March, and also on the further acquisition announced by the company recently.Dunlop Rubber have again come for active business, and are several shillings, above the price ruling a month ago, there being estimates that the dividend will be raised from 4 per cent, to at least 8 per cent. Vickers were well main- tained and Triplex Safety Glass higher at around 84s. IMPORTS AND EXPORTS AEROPLANES, airships, balloons and parts thereof (not shownseparately before 1910). For 1910 and 1911 figures see FLIGHT for January 25,1912. For 1912 and 1913, see FLIGHT for January 17, 1914. For 1914, see FLIGHT for January IS, 1915, and so onyearly, the figures for 1933 being given in FLIGHT, January18, 1934. Jan. .. Imports 1933. 1934. £ I 2,073 — Exports 1933. 1934. Re-exports 1933. 1934. ill82.963 255,437 827 PUBLICATIONS RECEIVED VAnnie Aironautique, 1932-1933. By L. Hirschauer and Ch. Dollfus.14th Year. Dunod, 92, rue Bonaparte, Paris. Medical Notes and First-Aid Treatment for Flights in the Tropics andSub-Tropics. Air Publication 1486. London: H.M. Stationery Office, W.C.2. Price 4d. net.Interludes. Vol. IV, No. I. January, 1934. Intertype, Ltd., Farnham Road, Slough, Bucks.The Journal of the Royal Air Force College, Cranwell. Vol. XIV. No. 1. Spring, 1934. Aldershot : Gale and Polden, Ltd.Everybody's Book of Aeroplanes. By R. Barnard Way. London: Percival Marshall and Co., Ltd. Price Is. &d. net. Calendar, 1934. Syndicato Condor, Ltd., Rua Alfandega, 5-3, Rio deJaneiro. Bulletin du Service Technique de VAironautique. No. 14. Limites Thertno-dynamiques de la Force Motrice aux diverses Altitudes de la Troposphire. By D. Jacovleff. August, 1933. Librairie Polytechnique Ch. Beranger, Quaide la Grande Bretange, 1, Liege, Belgium. Brico Piston Ring Catalogue and Directory. The British Piston Ring Co.,Ltd., Holbrook Lane, Coventry. The Phantom Plane. By Capt. A. O. Pollard, V.C., M.C., D.C.M. London:Hutchinson and Co. (Publishers), Ltd. Price 7s. Sd. net. Exploring the Upper Atmosphere. By Dorothy Fisk. London: Faber andFaber, Ltd. Price 6s. net. British Legion: Annual Report and Accounts, 1932-33. British Legion,Haig House, 26, Eccleston Square, S.W.I. Wardle Prismats. The Wardle Engineering Co., Ltd., Old Trafiord,anchrstrr. Aluminium Sfttkns, The British Aluminium Co., Ltd., Adelaide House,King William Street, London, E.C.4. ...* ::\--:!..z.r:..^::.:-.-.-. •,-• • '.-' * * : • ....'• ..':': ' PATENT AERONAUTICAL SPECIFICATIONS Abbreviations : Cyl. — cylinder ; i.e. — internal combustion ; m. — motors(The numbers in brackets are those under which the Specification will be printed and abridged, etc.) APPLIED FOR IN 1932 .....,.., V.-"-. Published February 22, 1934 - *"; ••"-•; -••< J *" :_ 14,243. E. G. BUCD MANUFACTURING CO. Construction of aeroplanes.(404,959.) 20,520. J. MARTIN. Aeroplane wings. (404,963.) 20,798. BRISTOL AEROPLANE CO., LTD., and H. J. POLLARD. Light-metalstructures for aeroplane wings. (404,944.) APPLIED FOR IN 1933 Published February 22, 1934 8,665. FAIREY AVIATION CO.. LTD., and M. J. O. LOBELLE. Chassis or undercarriages of aircraft. (405,132.)35,505. E. G. BUDD MFG. CO., LTD. Boats, pontoons, aeroplanes, etc (404,952.) 184
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